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OECD Countries — Germany and the UK drive stronger GDP growth in the EU but growth slows in Japan and the US

19 August 2010

Gross Domestic Product (GDP) in the Organisation for Economic Co-operation and Development (OECD) area rose by +0.7% in the second quarter of 2010, the same rate as in the previous quarter.Real GDP grew by +1% in both the Euro area (EA16) and the whole European Union (EU27) driven by record growth of 2.2% in Germany, its highest rate since reunification.

GDP growth was +1.1% in the UK, up from +0.3% in the previous quarter. GDP growth was +0.6% in France, up from +0.2% and +0.4% in Italy, unchanged from the previous quarter.


By contrast, GDP growth in Japan and the United States slowed to 0.1% and 0.6% respectively, compared with 1.1% and 0.9% in the previous quarter.

Relative to a year earlier, GDP in the OECD area expanded by +2.8%, up from 2.4% in the previous quarter. Germany at +3.7% had the highest rate and Italy (+1.1%) the lowest.

 

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